Tag: expansion

Why Doublestar’s Kumho purchase is a good idea

Why Doublestar’s Kumho purchase is a good idea

Friday 6th April 2018 | 0 Comments

15 months after bidding got underway, Qingdao-based Doublestar and its consortium of Chinese banks and investors bought 45 per cent of the South Korean tyremaker Kumho Tire over the Easter weekend. Whatever other clauses are written into the deal, following the release of shares issued for the purpose of the sale, Kumho Tire’s creditors will own a 23.1 per cent shareholding in the tyre maker, down from 42.01 per cent. This makes the Chinese tyre firm controlling shareholders in South Korea’s Kumho Tire.

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Hankook adding truck tyre production to European plant

Hankook adding truck tyre production to European plant

Monday 26th March 2018 | 0 Comments

With an investment of approximately 290 million euros, Hankook Tire is adding a truck tyre production unit to its factory in Rácalmás, Hungary. Work on this expansion project – the fourth since the plant opened in 2007 – will begin in June, with production expected to commence in June 2020. The truck tyre production unit will have the capacity to make 550,000 tyres a year, and its opening will create around 150 new jobs.

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ZC Rubber sales up 22%

Tuesday 20th March 2018 | 0 Comments

At the ZC Rubber dealer meeting held in late January, the ZC Rubber reported that its 2017 sales revenue was up by about 22 per cent.

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Test World doubles length of snow and ice test platforms

Test World doubles length of snow and ice test platforms

Monday 5th March 2018 | 0 Comments

Well-known Finnish test centre Test World is expanding its year-round testing options. According to the company, this year it is more than doubling the length of the existing natural snow and ice platforms, and introducing asphalt tracks for wet and dry braking and aquaplaning, all under one roof. The new and extended indoor tracks will be opening from April 2018.

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ZC Rubber hosts dealer meeting in Thailand

ZC Rubber hosts dealer meeting in Thailand

Thursday 8th February 2018 | 0 Comments

ZC Rubber hosted a meeting for dealers and partners in Bangkok, Thailand on 28 Januaruy. The distributor conference was headlined, “More Progress More Achievement”, focusing on improving market share in local tyre markets. Ge Guorong, vice president of ZC Rubber, shared the great achievement in the 2017 that the company’s sales revenue was up for 2017, by about 22 per cent.

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Kordsa expands polyester yarn capacity

Friday 12th January 2018 | 0 Comments

Kordsa is expanding its polyester capacity at its plant in Izmit, Turkey. With the addition of new facilities and equipment, Kordsa aims to have an additional polyester yarn capacity of 7000 tons with an additional 3,500 m2 area in its current facility this year.

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Petlas aims to increase car and truck tyre sales with factory investments

Petlas aims to increase car and truck tyre sales with factory investments

Friday 12th January 2018 | 0 Comments

Already a market leader in the agricultural tyre segment in the North Africa, Middle East and Eastern Europe, Turkish tyre manufacturer Petlas is now aiming to increase its passenger car and truck tyre sales figures in the years to come. To this end, the firm reports that it made a series of investments in its passenger car tyre production during 2017.

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NTC to build greenfield tyre factory in Saudi Arabia

Wednesday 10th January 2018 | 0 Comments

National Tire Company (NTC) has unveiled plans to build a greenfield car and truck tyre factory in Jubail, Saudi Arabia. The goal is to focus on “premium” tyre production only. The investment is owned by HRH Prince Fahad Bin Abdul-Rahman Bin Abdul-Aziz Al-Saud. According to NTC, the plant will be the first of its kind in Saudi Arabia and “one of the biggest and most modern individual tyre factories in the world”. The factory will make 16 million car tyres and 6 million truck tyres a year, with a workforce of 4000 at full capacity. NTC will work with the Finnish Black Donuts Engineering Inc in the construction of the factory.

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Incentives helped Triangle decide to build US factory in North Carolina

Tuesday 2nd January 2018 | 0 Comments

Triangle Tire’s decision to build its North American manufacturing facility in North Carolina was helped by the offer of $152 million in state and local financial enticements, state officials announced December 19. The company will receive $66 million in state incentives and $86 million from Edgecombe County. The two-phase project is expected to be complete by 2023.

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Orion completes Korea Carbon Black plant

Wednesday 13th December 2017 | 0 Comments

Orion Engineered Carbons has completed construction of a new carbon black production line at its plant in Yeosu, South Korea, to produce specialty products. The line started production on 23 November and has begun commercial sales.

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HELLA and BHAP look to intensify collaboration in China

Thursday 7th December 2017 | 0 Comments

Lighting and electronics expert HELLA and Chinese BAIC Group company Beijing HAINACHUAN Automotive Parts Co. Ltd. (BHAP) have announced, through a joint statement, that they intend to expand their existing collaboration, which has focused on the development and production of lighting systems for the Chinese market, to cover the electronics and aftermarket business.

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Further Guizhou Vietnam plant details

Thursday 7th December 2017 | 0 Comments

Following the initial announcement in April 2017 as well as details given to Tyres & Accessories during an interview in September, Guizhou Advance Tyre has announced further details relating to the expansion of its Vietnam factory plans.

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Kirkby Tyres’ 80,000sqft central distribution centre expansion nears completion

Tuesday 17th October 2017 | 0 Comments

Kirkby Tyres’ 2017 expansion programme will see its first warehouse completed in December 2017, with the 80,000sqft of new floor space, across nine additional new warehouses, fully operational by March 2018. In total, Kirkby will fit in 2,500 additional tyre racking units, enabling 8.9m high tyre storage facilities. The wholesaler will also add 10 more loading bays to its operation. In order to realise this expansion, Kirkby purchased three acres of land adjacent to its Speke headquarters, allowing it to increase its stock capacity and further improve its logistical operations, and increasing its total footprint to approximately nine acres. Kirkby added that the expansion would require more local personnel to be employed, and enable the company to offer customers a wider range of brands, sizes and applications.

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Nokian breaks ground on new North America factory

Thursday 21st September 2017 | 0 Comments

Nokian Tyres marked the beginning of building work on the company’s third factory on 20 September. The new greenfield site is located in Dayton (Rhea County), Tennessee, USA. Annual capacity will be 4 million tyres, with expansion potential in the future. The site will also house a distribution facility with a storage capacity of 600,000 tyres. Construction is scheduled to begin in early 2018 and the first tyres are to be produced in 2020.

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Kraiburg Austria invests in Spain

Wednesday 9th August 2017 | 0 Comments

Having appointed Alessandro Bottesini as sales manager in March, Kraiburg Austria now offers extended technical support for its proven, high quality products. The company reports that in it is experience such a move is important for market growth. Furthermore it is of crucial importance for the fleets to under-stand how to fit retreaded tyres with a perfectly matched combination of pattern design and compound for the relevant application.

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